New York, February 19, 2025: The U.S. Securities and Exchange Commission (SEC) informed a federal judge that it is still working to serve its complaint on Gautam Adani and Sagar Adani in an alleged bribery case. The SEC has sought assistance from Indian authorities under the Hague Service Convention, as both individuals are based in India. The complaint, filed on November 20, 2024, accuses them of violating federal securities laws by making misleading statements about Adani Green Energy Ltd during a September 2021 debt offering.
The SEC’s submission to Judge Nicholas Garaufis of the U.S. District Court for the Eastern District of New York noted that the process follows Rule 4(f) of the Federal Rules of Civil Procedure, which governs serving defendants abroad. The agency has contacted the Adanis or their legal representatives and sent them Notices of Lawsuit and Requests for Waiver of Service of Summons. Efforts to complete the legal service are ongoing.
